Iloilo sets aside P100-M to help Iloilo rice farmers recoup losses

Published October 8, 2019, 10:24 AM

by Dr. Eduardo Gonzales

By Tara Yap 

ILOILO CITY—A P100-million loan program is set to help rice farmers in Iloilo province recoup huge losses from plunging palay prices

Farmers affected by plunging palay prices in Iloilo province are set to benefit from a program of the provincial government. (Tara Yap/Manila Bulletin/File)
Farmers affected by plunging palay prices in Iloilo province are set to benefit from a program of the provincial government. (Tara Yap/Manila Bulletin/File)

This after the Iloilo Provincial Board approved the request of Gov. Arthur Defensor Jr. to fund the program that can ease the negative impact of the Rice Tarrification Law.

Defensor said each farmers’ cooperative can avail of a maximum loan of P15 million. The cooperative can then use the money to buy palay from small-scale farmers at premium prices.

The loan program has a two-percent interest and is open to cooperatives with good credit records.

“A cooperative is a private entity.  That is why we are being careful,” Defensor explained.

Based on the data of the Iloilo Provincial Agriculture’s Office, there are 7,953 small-scale farmers scattered in 42 towns and the component city of Passi.

Defensor added the loan program is in response to Agriculture Secretary William Dar’s call to help local farmers get back on their feet.

Meanwhile, the provincial government also requested National Food Authority (NFA) to establish mobile buying stations and make it easier for farmers to transport their palay.

 
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